Economies worldwide slowing down or missed their forecast. Why? There are different explanations. Today, I do a quick analysis of AUDUSD and how I trade it.
Agree with the general analysis. However, can you give more details on the proposed trade? SL, TP? As it is diagrammed on the chart I would say the risk/reward is to high for me (to much risk).
Also, on the fundamental side, can we be reasonably certain that commodities have not bottom out in price? Oil seems to be rebounding ...
piptank
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Hi Simon,
1. oil price is a political weapon for many countries you can never be sure it is bottom out or not that why oil trading is so difficult imho
2. I trade daily charts thats why my SL, TP are a bit bigger. Your risk and reward can be different, no question about it. I think a SL around 0.807 and TP 0.76 is great, too
Also, on the fundamental side, can we be reasonably certain that commodities have not bottom out in price? Oil seems to be rebounding ...